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Residential Bright-line Test Seminar

When:

Thu 22 Sep 2016, 5:30pm–7:00pm

Where: BDO Rotorua, Level 1 , 1130 Pukaki Street, Rotorua, Bay of Plenty

Restrictions: All Ages

Ticket Information:

  • Admission: Free
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  • To be over 18 years old
  • Visa/Mastercard payment
  • NZ drivers licence or passport
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Website:

Listed by: BDO Rotorua Ltd

Join BDO Rotorua for this seminar as we take a look at the New Residential Bright-line test that is now enforce for the sale of residential property and what it means for you:

- Overview of the new law and where it fits into existing property law.
- Trusts and the family home.
- Exemptions to the rules.
- Resident Land Withholding Tax (RLWT).
- The new “Bright-line test” came into effect 1 Oct 2015. What this means is that taxpayers who owned and sold residential property within 2 years of ownership, will now be taxed on the gains made.

With 25% of Auckland dwellings sold within 2 years and 59% of North Auckland residential properties sold within 12 months (and 29% of those within 3 months!) it was little wonder that new rules were going to be brought in to take the sting out of the property market.

The new tax is expected to curb speculator behaviour and add an extra $5 million in taxes collected annually. It has cost $5 million to just get the legislation drafted to date.

As with any new legislation there is plenty to learn, fish hooks to avoid and sensible planning to undertake to mitigate your exposure to this new tax take.

Seats are limited so please RSVP to karlene.edkins@bdo.co.nz as soon as possible.

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